Rezoning of Five Blocks Would Spur Office Building by Developer SL Green

The de Blasio administration is proposing to rezone the five-block street that borders Grand Central Terminal, clearing the way for a 65-story tower in the heart of the aging office district, according to people familiar with the matter.

City officials have discussed rezoning Vanderbilt Avenue, which stretches from East 42nd Street to East 47th Street. That would allow SL Green Realty Corp. to build the 1,200-foot tower it calls One...